Sale at 125 East 74th Street #5B

not even 1000 sq ft...

Same lady was seller for 5C $400k below, so maybe we have a delusional owner here.

Maybe there is something in the water in this building - 5D sold in 2010 for 1,595,000 and is currently on the market for 1,775,000!!!

01/17/2008
Previous Sale recorded for $1,450,000.
03/10/2010
Previously Listed by Sotheby's International Realty, Inc. at $1,595,000.
09/14/2010
Sotheby's International Realty, Inc. Listing sold.
09/14/2010
Previous Sale recorded for $1,595,000.
11/11/2010
Listed by Stribling at $1,695,000.
11/24/2010
Price increased by 3% to $1,750,000.
12/31/2010
Listing entered contract.
02/15/2011
Re-listed by Stribling.
02/15/2011
Price increased by 1% to $1,775,000

Basically a 1 bed / 1 bath @ $1.5m? Not shocking it's been sitting on the market 9 months.

I agree...it's small they won't get asking

Confused on the sale strategy here - place is really just a 1 BR, been on the market a year, no price cuts and the broker is still holding 2 OH's per week. I get the zombie listing strategy but continuing to pay for featured listings and to waste time on OH's seems like a pretty big waste of time!

Damn that is a TIGHT kitchen. I'll bet there isn't even the standard 36-inch minimum clearance between those cabinets!

matt, the bathroom accessible from the 8ft wide dining room is arguably more problematic

Here is 6C that closed for 950K back in January. Remember Comps? I'll bet buyers do.

11/07/2009 Listed by Stribling at $1,250,000.
01/05/2010 Price decreased by 4% to $1,200,000.
02/28/2010 Listing entered contract.
04/12/2010 Re-listed by Stribling.
04/12/2010 Price decreased by 8% to $1,100,000.
08/10/2010 Price decreased by 10% to $995,000.
11/19/2010 Listing is no longer available.
11/25/2010 Later Listed by P.S. Burnham Inc. at $995,000.
01/27/2011 P.S. Burnham Inc. Listing sold.
01/27/2011 Sale recorded for $(insiders only)

Correction; 6C was purchased at 995K. Still, that's quite a margin.

OK, this is a joke of an ask. The question is, what do we think of the agent who lists a property at psycho $ and just lets it hang out here for some crazy period of time. I'll tell you, it's an agent that does not give a hoot about their reputation. Marguerite De La Poer, the listing agent, must simply not care. WTF, it's a sucker bet, maybe that one sucker will just come along. In a magic world where RE agents behaved like it was a profession this seller would be schooled or droped. Sounds crazy?
I did mention magic.

Wait, so if you converted this into the two-bedroom it claims to be, you'd access the kitchen through one of the bedrooms? Can that possibly be right?

I'm not sure if I would even pay over $500 for that place - did you check out the view? Perhaps that's not important to most.

C'mon, those monthlies only work out to about $9K per month. You couldn't match this place's "noteworthy architectural features" in the rental market for a one bedroom + office at that price.

Of course, it looks like the building wants 75% down, which would basically make this unsellable unless they allow absent owners. I am sorta surprised that this building would allow so many open houses, and you would think that the smae lady selling 5c and 5d might be pitching the combination (unless that was why she bought them and was shot down).

How is this even possible when #6A, which has five rooms, closed a year ago for $995k. Apt 5D was at least renovated. This one looks like it needs work in addition to the ridiculous ask.

Any wagers on when the price will drop?

What a fking POS pretentious name of the borker...

Yeh, buy this and be De La Poorer for the next 50 years.... fking hilarious... $1.5MM for a 1bdrm!

It is a very nice, old fashioned, well run building with a difficult board. Obviously the seller is in no rush to sell. Sometimes people list just to see if they can get what they want. This apartment is on the back, with a school on one side and a synagogue that runs daycare behind it.... So not a quiet daytime apartment. That is probably a big deterrent. I am amazed the board allows all the open houses as well - they are usually forbidden in nice buildings like this one.

6A is a totally different case - a much better apartment, but with a killer maintenance due to the fact that it is the better (bottom) half of a former duplex. The maintenance, combined with a seller who had already moved to a larger, more expensive apartment nearby, and a deal that fell apart leaving her on the hook for two expensive apartments led to the ultimate fire sale price.

As for 2D - it was beautifully renovated by the editor of town and country magazine.... But it is also extremely visible from the street. I can see how a purchaser could realize after living there just a short time that the privacy was a big issue.

This is one of the nicest side street buildings on the Upper East Side - so it is difficult to compare to other buildings as there is a definite premium based on the prestige of the building. But yes, 5B is still overpriced.